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Should i clear my debts when i remortgage?
Hi all,
my 2 year fixed-term mortgage (halifax) ends in july, and i have about 10k in credit cards and loans which i'm considering 'putting on my mortgage'.
i've applied for a few too many credit cards lately (to shift debt to) and so my credit score is a little shaky. also, i will be self-employed very soon, so applying for credit is going to be very hard.
i don't know if it's good to dig a little into my home's equity? it would feel great not to have those monthly outgoings...
the main priorities are a 4k balance on a credit card (promo rate runs out in sept) and a personal loan (3.5 k) which i'm paying until 2010 @ 6.9% apr (i think mortgages are little less than that)
i always think that 'putting it on the mortgage' is making the debt cheaper, but for much longer (20 years!) so it's false economy?
any advice is very welcome!!
thanks for reading this
jg
my 2 year fixed-term mortgage (halifax) ends in july, and i have about 10k in credit cards and loans which i'm considering 'putting on my mortgage'.
i've applied for a few too many credit cards lately (to shift debt to) and so my credit score is a little shaky. also, i will be self-employed very soon, so applying for credit is going to be very hard.
i don't know if it's good to dig a little into my home's equity? it would feel great not to have those monthly outgoings...
the main priorities are a 4k balance on a credit card (promo rate runs out in sept) and a personal loan (3.5 k) which i'm paying until 2010 @ 6.9% apr (i think mortgages are little less than that)
i always think that 'putting it on the mortgage' is making the debt cheaper, but for much longer (20 years!) so it's false economy?
any advice is very welcome!!
thanks for reading this
jg
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